- United States
- Colo.
- Letter
Stop the Crypto Power Grab — Reject the GENIUS Act (S. 1582 / S. 394)
To: Rep. Hurd
From: A constituent in Crestone, CO
July 17
I am writing to urge you to vote NO on the GENIUS Act (S.1582 / S.394) — a bill that pretends to regulate stablecoins, but in reality, opens the door to massive abuse, insider enrichment, and a dangerous shift in our financial system.
The GENIUS Act allows non-bank entities and politically connected firms to issue digital dollars under the guise of "innovation." It lacks meaningful conflict-of-interest protections — allowing even the President and his allies to potentially profit from digital assets they help regulate. This is not regulation. It’s legalized corruption.
While the Act claims to protect consumers, it fails to:
Ban federal officials from owning or promoting digital currencies.
Limit non-bank issuers or require public oversight.
Guarantee reimbursement in the event of fraud or collapse.
Prevent algorithmic manipulation or excessive fees.
If passed, this law would legitimize the President’s own questionable digital coin ventures and set a dangerous precedent: financial systems designed for the powerful, not the public.
We need real regulation that prioritizes public interest and economic stability — not a Trojan horse written for billionaires.
I ask you to oppose the GENIUS Act and demand a better alternative: one that bans conflicts of interest, restricts issuers to regulated banks, and enforces strong, enforceable protections for consumers and the U.S. dollar.
We are watching. And we will remember your vote.